Fluctuating home prices in Statesville, North Carolina: What causes this?

Home prices are constantly moving up and down. Over a long enough period of time, home values , by and large, go up. But, of course, there are no "sure things" in real estate.

When your house appreciates you have a greater asset to borrow against, and you get a bigger profit when you sell. Property values in Statesville change for different reasons, so how do you know what you're investing in right now won't depreciate the day after you close? The most important aspect is that you go with a REALTOR® in Statesville who recognizes the factors that affect local prices.

 
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What is the most important factor impacting real estate appreciation? Many are convinced that it's the economy. Naturally, mortgage rates, unemployment, job growth, government programs and a handful of other national factors can always influence your house's value. But the most significant factors that determine your home's value depend on the local Statesville economy and housing market.

Let Exit Home Team Realty help you with your first home purchase in Statesville Access to services - Many consumers prefer to live in regions with the most conducive amenities for households to grow, like a close proximity to schools and work. So those regions consistently appreciate, or keep their value consistently, year to year.

Recent home sales - You should receive reports on the recent real estate sales in the areas that you're asking about from your REALTOR®. You'll need to analyze data like time on market and seller discounts.

History of appreciation - In the past 5 to 10 years, have house prices increased or decreased? Does location or affordability affect how desirable the area is believed to be?

Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a nice mix of job types in an area, or does it depend on just one industry? Each of these pieces plays a role.

It's important to be informed about the factors that impact your home's value. Visit this link for an estimation of your house's value. Please call me at 704-768-3950 or e-mail me with any questions.

Lori Marlow, ABR-Exit Home Team Realty 215B W Broad St. Statesville, NC 28677-5259
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